All Forum Posts by: Cody Smith

Hello BP community! I’ve come to seek some advice. I am very new to RE investing, and just starting to build my knowledge base and plan to move forward. I have begun this journey with extreme motivation, and I believe my “reasons why” for pursuing this are very strong. But, the question I am now asking myself is, when is it actually a good time for me to begin with my first deal? I know the general idea for beginning to invest is to just jump right in, and I am completely ok with doing that, but am I really ready? I have only purchased one property, the one I currently live in, and my investment and landlording knowledge is very weak. I understand the avoidance of “analysis paralysis” but what about the opposite end of the spectrum, where you jump into something without enough knowledge? At what knowledge level would you really feel comfortable, or actually be considered “ready” to begin? I know that time can’t actually be measured and determined, but what can I do to ensure I am making smart moves? Thanks! -Cody Smith

@Troy Williams I figured it was too early in the whole process to really see any effect. I guess we would be looking at a pretty significant chain of events to really see a large change in the market!

Jay Hinrichs Wow, thats insane. Thank you for the insight!

Jay Hinrichs Wow, that is quite a difference. I’m not knowledgeable at all about the building world, but I would assume that the change in the cost to build would result in a higher required cost to sell the homes? Or is the selling price still solely dependent on the market in that case?

Jay Hinrichs With farmers and individuals in those types of markets being hit the hardest, do you think that it would really only be those regions of the housing market that would be affected? Or do you think it could result in a wide spread epidemic to ultimately change the market as a whole? Just trying to understand if global impacts such as this one are things to take notice of as a potential contender in a market shift.

Hello BP community! I am trying to gain more knowledge and experience with understanding and predicting the real estate market. More specifically, how National and global issues affect the housing market positively and negatively. I’m sure everyone here knows about the trade tensions with China and other countries. How do you think that these trade changes will affect the housing market? Is it a safe assumption to think that the new tariffs on goods will cause the general cost of living to rise, ultimately resulting in a snowball effect that will lead to a bear market? I’m positive there are people here who know much more about the entire situation than I do, I just want to get a discussion started to see what you guys are thinking. Thanks! -Cody Smith

Hello BP community! I am trying to gain more knowledge and experience with understanding and predicting the real estate market. More specifically, how National and global issues affect the housing market positively and negatively. I’m sure everyone here knows about the trade tensions with China and other countries. How do you think that these trade changes will affect the housing market? Is it a safe assumption to think that the new tariffs on goods will cause the general cost of living to rise, ultimately resulting in a snowball effect that will lead to a bear market? I’m positive there are people here who know much more about the entire situation than I do, I just want to get a discussion started to see what you guys are thinking. Thanks! -Cody Smith

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*This link comes directly from our calculators, based on information input by the member who posted.

Hello! So I have been playing around with the calculators lately, trying to analyze multiple deals per day and really start to try and get an understanding of everything. While experimenting/ searching for a potential first property to purchase, I came across this set of duplexes in a neighboring city. After inputting the rough but hopefully conservative numbers, I have yielded some really remarkable results. To someone with more experience than myself, does this look as good as I think it does? It is 3 duplexes sold as a package deal. The purchase price I have set is $15,000 less than the current asking price, but it has been on the market for a few months now so I assume that to be reasonable, especially since this person is trying to offload a triple property package deal. The numbers include the current rent being increased by $75/mo (current rent is a little low). The difference in cash flow between managing myself or hiring a property manager is $478 when managed, and upper $800s when managed on my own. I would most likely hire a property manager for the size of the property. Does this seem like a good deal, especially seeing as it would be my first investment property? Is this getting myself into something too large for the start? Are my numbers reasonable? Thank you so much for your feedback!

@Michelle Bright Thank you for the advice! I am actually seeking some other information as far as how hiring a property manager works as well, so maybe we could discuss some of the questions I have? Thanks!

@Michael Duncan, Thank you for the advice. I can say that one lesson I have learned in other facets of life would be to never try to present more than you actually know. I have watched people learn that the hard way when it really matters. I feel like when I was dealing with this agent, I acted as transparent as possible, and asked any and all questions I could, so hopefully that stood for something. I will definitely use the BP community for some connections. Thank you!